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X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.
  • a)
    Rs.20,000
  • b)
    Rs.19,500
  • c)
    Rs.19,000
  • d)
    Rs.18,500
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has g...
Given information:
- X purchased goods on 90 days credit from Y of worth Rs.20,000
- Y has given a trade discount of Rs.1,000 on the same
- Y allowed a cash discount of Rs.500, if payment is made within 30 days
- X availed cash discount and also paid the dues of Y
- Goods purchased from Y remained unsold and included in the stock

To find: The amount of stock

Calculation:
- Trade Discount = Rs.1,000
- Cash Discount = Rs.500
- Total Discount = Trade Discount + Cash Discount = Rs.1,500
- Amount paid by X = Rs.20,000 - Total Discount = Rs.18,500

Therefore, the amount of stock is Rs.19,000 (original purchase amount of Rs.20,000 minus amount paid by X of Rs.18,500)

Answer: c) Rs.19,000
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Community Answer
X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has g...
Purchases-20000- trade discount(1000)=actual purchases=19000. as the goods are not sold.closing stock is 19000. i.e. other information is irrelevant.
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X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.a)Rs.20,000b)Rs.19,500c)Rs.19,000d)Rs.18,500Correct answer is option 'C'. Can you explain this answer?
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X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.a)Rs.20,000b)Rs.19,500c)Rs.19,000d)Rs.18,500Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.a)Rs.20,000b)Rs.19,500c)Rs.19,000d)Rs.18,500Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.a)Rs.20,000b)Rs.19,500c)Rs.19,000d)Rs.18,500Correct answer is option 'C'. Can you explain this answer?.
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